Geron (NASDAQ:GERN) Price Target Raised to $7.00

Geron (NASDAQ:GERN) had its price target lifted by equities research analysts at Needham & Company LLC from $6.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 138.10% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Geron in a research report on Tuesday, December 10th. Scotiabank started coverage on Geron in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $6.00 price objective on the stock. Finally, Barclays upgraded Geron to a “strong-buy” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Geron Stock Down 1.3 %

Shares of NASDAQ GERN opened at $2.94 on Monday. Geron has a 12 month low of $1.64 and a 12 month high of $5.34. The company has a current ratio of 2.89, a quick ratio of 2.74 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -9.19 and a beta of 0.55. The business has a 50-day moving average of $3.78 and a 200-day moving average of $4.21.

Geron (NASDAQ:GERN) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. Geron had a negative net margin of 682.48% and a negative return on equity of 67.53%. The firm had revenue of $28.27 million for the quarter, compared to analyst estimates of $18.97 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was up 17138.4% compared to the same quarter last year. Sell-side analysts expect that Geron will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. RTW Investments LP bought a new stake in Geron in the 3rd quarter worth $200,268,000. Darwin Global Management Ltd. purchased a new stake in shares of Geron during the second quarter worth about $106,185,000. Holocene Advisors LP bought a new stake in shares of Geron in the third quarter worth about $82,498,000. Janus Henderson Group PLC increased its holdings in Geron by 140.0% during the 3rd quarter. Janus Henderson Group PLC now owns 22,565,846 shares of the biopharmaceutical company’s stock valued at $102,193,000 after purchasing an additional 13,163,889 shares during the period. Finally, Farallon Capital Management LLC raised its position in Geron by 124.6% during the 2nd quarter. Farallon Capital Management LLC now owns 16,837,000 shares of the biopharmaceutical company’s stock valued at $71,389,000 after purchasing an additional 9,342,000 shares during the last quarter. 73.71% of the stock is owned by hedge funds and other institutional investors.

About Geron

Geron Corporation, a late-stage clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for myeloid hematologic malignancies. It develops imetelstat, a telomerase inhibitor that is in Phase 3 clinical trials, which inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies for the treatment of low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis.